How to Use Planned Value and Earned Value in Project Insight – Project Insight Help Center

Yes. Project Insight can track Planned Value and Earned Value through the Project Budgeting add-on’s Planned & Earned Value calculation fields.

Planned Value and Earned Value are PMBOK-aligned performance measurements that help teams understand project progress in financial terms. They estimate how much work should have been completed by now and how much work has been earned based on the current percent complete.

These values are based on planned work, not actual time entries. They can be useful even if your team is not entering time in Project Insight.

What Is Earned Value?

Earned Value, or EV, uses the percent complete of a task or project and multiplies it by work cost information, such as work hours and work expenses.

In plain terms, Earned Value helps answer:

How much work have we completed, expressed in dollars?

Project Insight also supports Earned Value Billable, or EV Billable. This uses work billable information, such as work billable hours and work billable expenses.

What Is Planned Value?

Planned Value, or PV, uses how much work should have elapsed based on the task or project schedule and multiplies it by work cost information, such as work hours and work expenses.

In plain terms, Planned Value helps answer:

How much work should have been completed by now, expressed in dollars?

Project Insight also supports Planned Value Billable, or PV Billable. This uses work billable information, such as work billable hours and work billable expenses.

How Do Planned Value And Earned Value Work Together?

Planned Value and Earned Value are performance-to-schedule measurements. They help teams compare the value of the work that should have been completed with the value of the work that has been completed.

Measurement	What It Uses	What It Helps Answer
Earned Value (EV)	Percent complete and work cost information	How much work has been completed in dollars?
Earned Value Billable (EV Billable)	Percent complete and work billable information	How much billable work has been completed in dollars?
Planned Value (PV)	Scheduled work elapsed and work cost information	How much work should have been completed by now in dollars?
Planned Value Billable (PV Billable)	Scheduled work elapsed and work billable information	How much billable work should have been completed by now in dollars?

Do Planned Value And Earned Value Use Time Entries?

No. Planned Value and Earned Value do not depend on Time Entry or Actual Time/Expense add-ons.

This means your team can use Planned Value and Earned Value fields even if users are not entering time in Project Insight.

How Do You Enable Planned And Earned Value Calculation Fields?

Planned and Earned Value fields are available through the Project Budgeting add-on. Administrators can enable advanced Planned/Earned Value fields for projects and tasks.

Advanced Planned/Earned Value Fields For Projects

Advanced Planned/Earned Value fields for projects help project managers and project leaders review financial performance at the project level.

Advanced Planned/Earned Value Fields For Tasks

Advanced Planned/Earned Value fields for tasks help teams review performance at a more detailed level when task-level work, work cost, and work billable information are being used.

Where Can I See Earned Value And Planned Value?

If you are a Project Manager for a project, the bottom of the Project Status screen displays tabs for important project information. The Performance tab breaks down Planned Value and Earned Value.

You can also add Planned Value and Earned Value columns to project and task reports by selecting them from the Work column choices.

Examples include:

Work Planned Value
Work Earned Value
Work Billable Planned Value
Work Billable Earned Value

Common Questions

Can Project Insight Track Planned Value And Earned Value?

Yes. Project Insight can track Planned Value and Earned Value through the Project Budgeting add-on’s Planned & Earned Value calculation fields.

What Is The Difference Between Planned Value And Earned Value?

Planned Value shows how much work should have been completed by now, expressed in dollars. Earned Value shows how much work has been completed based on percent complete, also expressed in dollars.

Do Planned Value And Earned Value Require Time Tracking?

No. Planned Value and Earned Value do not interact with Time Entry or Actual Time/Expense add-ons.

Where Can I Report On Planned Value And Earned Value?

Planned Value and Earned Value can be viewed from the Performance tab on the Project Status screen and can also be added to project and task reports.

In Short

Planned Value and Earned Value help Project Insight teams understand project progress in financial terms.

Planned Value shows the value of the work that should have been completed by now. Earned Value shows the value of the work that has been completed based on percent complete. Together, they help teams evaluate performance to schedule using project work and cost data.